Nerona USD (USDnr) is a fiat-backed US dollar stablecoin. It has about $1.5M in circulation, ranking #196 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
What is USDnr?
Nerona USD (USDnr) is a fiat-backed US dollar stablecoin. It has about $1.5M in circulation, ranking #196 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
In the issuer's words: A digital dollar fully backed by short-duration US Treasury bills via M0, redeemable 1:1 for USD.
USDnr supply history
USDnr supply fell 38.1% over the past 30 days, to $1.5M. Its peak was $27.0M in May 2026, and supply is 94% below that high.
Is USDnr holding its peg?
USDnr is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDnr lives: supply by blockchain
Supply is concentrated: Fluent holds 100% of all USDnr. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDnr is backed
Each USDnr is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Minting and redemption: USDnr issued through M0 technology, by MoonPay. Mint/Redeem facilitated on Ethereum and Fluent with M token.
USDnr risks
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
With $1.5M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDnr vs USDT and USDC
Similar fiat-backed stablecoins
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USDnr FAQ
What is USDnr?
Nerona USD (USDnr) is a fiat-backed US dollar stablecoin. It has about $1.5M in circulation, ranking #196 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
Is USDnr pegged 1:1 to the US dollar?
USDnr targets 1 USD. At the last update it traded at $0.9991, a deviation of -0.09%, which we classify as "on peg".
What backs USDnr?
USDnr is a fiat-backed stablecoin. Each USDnr is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Which blockchains is USDnr on?
USDnr is live on 2 blockchains. The largest by supply are Fluent ($1.5M), Ethereum ($2K).
How much USDnr is in circulation?
About $1.5M of USDnr was in circulation at the last update, -38.1% over 30 days. That makes it the #196 stablecoin by supply among those we track.
Is USDnr safe?
No stablecoin is risk-free. As a fiat-backed design, USDnr's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. Its supply is small, so liquidity can be thin. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.